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The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality.

Ludwig von Mises

Related Topics

Attitude Boss Capital Consumer Economic Market Real Running System

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Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
LUDWIG VON MISES

Answer Change Cooperative Division Economical Free Individual Labor Market Mean Mena Simple System
Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen.
LUDWIG VON MISES

Arm Employment Gendarme Government Hangmen Last Prison Resort Soldier
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
LUDWIG VON MISES

Ask Essential Freedom Government Imprisoning More Ultimate
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
The riches of successful entrepreneurs is not the cause of anybody’s poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur’s efforts.
LUDWIG VON MISES

Anybody Effort Entrepreneur Poverty Successful
Planning other people’s actions means to prevent them from planning for themselves, means to deprive them of their essentially human quality, means enslaving them.
LUDWIG VON MISES

Authoritarian Create Enslave Limit Operation Private Property Set
Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a selfappointed elite of supermen.
LUDWIG VON MISES

Ability Appointed Elite Example Neglect Problem Self Supermen Surrender
The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
LUDWIG VON MISES

Despotism Freedom Oligarch Opinion Public Resistance Struggle Ultimately
The so-called liberals of today have the very popular idea that freedom of speech, of thought, of the press, freedom of religion, freedom from imprisonment without trial-that all these freedoms can be preserved in the absence of what is called economic freedom.
LUDWIG VON MISES

Call Freedom Liberal Popular Press Religion Speech Though Today
True, governments can reduce the rate of interest in the short run. They can issue additional paper money.
LUDWIG VON MISES

Additional Government Interest Issue Money Paper Rate Reduce Run Running Short
Historical knowledge is indispensable for those who want to build a better world
LUDWIG VON MISES

Better Build Historical Indispensable Knowledge Want World
A higher standard of living also brings about a higher standard of culture and civilization.
LUDWIG VON MISES

Civilization Cultural Higher Living Standard
Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
LUDWIG VON MISES

Apply Government Ink Institution Paper Take Valuable Worthless
The Welfare State is merely a method for transforming the market economy step by step into socialism.
LUDWIG VON MISES

Market Misery Socialism State Step Transform Welfare
A free press can only exist where there is private control over the means of production
LUDWIG VON MISES

Control Free Mean Over Press Private Production
Under capitalism everybody provides for their own needs by serving others.
LUDWIG VON MISES

Capitalism Everybody Need Other Provide Serving Under

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